Nucleus Software Exports Ltd.

Nucleus Software Exports has acquired stake in Avon Mobility Solution (Avon). The acquisition would not fall within related party transaction. The company has acquired 4% is in continuation of the 96% acquisition made in March 2016.

Avon is already a subsidiary of the company and after this transaction it would become the wholly owned subsidiary of the company. Total cost of acquisition is Rs 8,299,324. Avon is providing specialised services in mobility solutions, logistics domain and in developing mobile applications.

Nucleus Software Exports is a leading provider of software solutions to the Banking, Financial Services Industry (BFSI). It has developed solutions spanning from retail banking to corporate banking, cash management, internet banking and credit cards.